Duke Realty DRE is on an acquisition wave. The company recently announced the acquisition of a 63,265-square-foot distribution facility located on 3. 2 acres at 468 South Humane Way in Pomona, California. With this purchase in the popular San Gabriel Valley submarket, Duke Realty’s portfolio in Southern California now exceeds 18 million square feet. The building is fully leased to the apparel and gift maker, Golden Grove Trading Inc. , and serves as its corporate headquarters and distribution center. Demand is higher for the trendy range at the San Gabriel Valley submarket location, which is close to the roughly 15 million people who live within a 50-mile radius. Duke Realty also announced the acquisition of a 53-acre site in Newark, NJ, less than a mile from the New York / New Jersey harbor, Liberty International Airport and the I-95 freeway. New Jersey Turnpike. The site is available on Delancy Street and has road access to containers for obese people. The move is a component of the Company’s focus on expanding into higher barrier Tier 1 market venues. The marketplace enjoys strong demand for commercial properties, but due to the limited number of sites, the acquisition is a strategic fit. The call for effective logistics infrastructure and distribution networks has increased amid the rise of e-commerce, the expansion of industries and corporations striving for supply chain power. This has helped commercial REITs add Duke Realty, Prologis PLD, Rexford Industrial Realty, Inc. REXR, and Terreno Realty Corporation TRNO. In addition to the immediate adoption of e-commerce, genuine logistics properties are poised to gain merits from building on stock levels after the global fitness crisis, opening up the option for Prologis, Duke Realty, Rexford Industrial Realty and Terreno. Realty Corporation gain merits from a favorable market environment. Duke Realty, which has evolved into a purely domestic, genuine commercial real estate investment trust, is well placed to capitalize on the enabling environment supported through its forged operating platform and physically powerful scale. Zacks Rank # 3 (Hold) DRE shares have gained 15. 1% in the last 3 months compared to the industry rally of 2. 1%.
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Do you want to know the latest recommendations from Zacks Investment Research?Today you can download 7 movements for the next 30 days. Click for this loose report Prologis, Inc. (PLD): Duke Realty Corporation (DRE) Free Inventory Analysis Report: Terreno Realty Corporation (TRNO) Free Inventory Analysis Report: Rexford Industrial Realty, Inc. Free Inventory Analysis Report (REXR): Free Stock Analysis Report To read this article in Zacks. com, click here.